ONTARIO PENSION PLAN TO PAY UP TO DOUBLE TOP CPP BENEFIT: REPORT

Jan 26, 2016

By Jane Brown

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The Ontario Retirement Pension Plan won’t be launched until next year, but details of the Made In Ontario pension are scheduled to be revealed later this morning.

And it appears, the ORPP will pay the most to those who earn the most.

A published report says the benefits include a maximum amount of monthly income that is almost double what the Canada Pension Plan pays for those who are earning a salary up to $90,000 annually.

Currently, the maximum benefit for the CPP is $13,110. The yearly payout under the proposed Ontario Retirement Pension Plan could be as much as $25,000 for employees earning a higher income.

Premier Kathleen Wynne is expected to reveal additional details at a news conference set for 11:30 this morning. She will be joined by Finance Minister Charles Sousa.

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